Almost everyone can develop a basic project plan. However, only skilled project managers can find optimal solutions for projects. This require fine tuning of the initial project plans to determine the best approach. This requires a great level of detailed work and maintaining a balance between the Scope, Time and Quality.
At times the project plan might seem too long. Shortening of the project might be required to meet the deadline.
Optimising project durations
Review task estimates
This is particularly important for critical tasks. We might discover that there are unnecessary delays. This might be a challenging tasks, but certainly worth pursuing.
2. Re-assess network logic
Potential improvement should also be south in the network logic. It might simplify the logic and allow for task flexibility. We might want more tasks to run concurrently and overlap more naturally.
3. Re-assess the number of tasks
Sometimes tasks might be scheduled in the lower level of detail than it is necessary. It might be possible to merge some tasks that will result in duration being shortened for the overall project.
4. Overtime
Working longer hours is never a good idea for the staff affected as well as the actual productivity may not be accomplished through such method. It is proven that tired employees are a lot less effective.
5. Add resources
At times it is possible to adjust the resources (generally people) in order to optimise the project duration. This might, however, have immediate cost implications. Therefore it would be reasonable to choose tasks when the costs will not be significant as priority. This way it might be worth it and bring benefits to project durations.
Optimising Project costs
At times the optimisation techniques mentioned above may influence the project costs and save money. The expense of shortening the task durations should be assessed for financial implications.
In order to optimise costs, we might:
Re-assess resource estimates
We might challenge the resource quality or quantity assigned to original project plan. This might be done in conjunction with reviewing of the individual task durations estimates mentioned above for project time optimisation. However, we must bear in mind that the tasks objectives must be as realistic and achievable as possible within the defined Scope, Time and Quality.
2. Reschedule resources over longer time period
Generally, the longer we take for mobilisation of resources the lower costs might be expected. We must be mindful, however, of the expensive resources to not be utilised for longer than it is necessary. Instead of hiring a consultant, for example, we might be able to extend the time for "in-house" person to learn and deliver the same objective within defined Scope, Quality and Time a lot cheaper.
3. Ensure bidding environments for suppliers and/or subcontractors
The project should take full advantage of costs savings through tenders. With some degree of research project can search for best combination of low cost and good quality. Sometimes savings can be significant, but time and effort is required to set relevant procedures.
5. Re-assess overheads
Accommodation charges, energy rates, cleaning services, office equipment, transport and other bills might not have direct bearing on the actual project tasks. However, these might consume a significant amount of cash, therefore, it is worth to re-assess them.
6. Re-evaluate Risk register
At times the business approach to project risks might be overly-cautious. Trying to mitigate risks, therefore, might become expensive to the overall project budget.
7. Re-assess the cash flow
The timing of payments may require careful management. The payments at times may only be made for the work once the work complete.
Optimising Quality
In essence, quality is the ability to satisfy stated and implied needs. This means that needs need to be satisfied. The project must meet the fundamental criteria as work or product being fit for purpose. The quality should not be too high or too low. Sometimes high expectations might require more resources than necessary. We should always strive to get things right at the first time. Excessive checking, repairing and testing might to costly and time consuming.
Project Crashing
The practice of crashing may, at times, be a regretful exercise. If it is absolutely required, than it has to be manage with caution and skill. This is because, an extra cost might be expected.
When crashing, we must remember that the critical path determines the duration of a project. Therefore we have the choice to prioritise the tasks on critical path. Reducing the time of tasks on critical path may result in time savings. There might be no point crashing tasks not on a critical path if there is no benefit of speeding up of a project.
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